xbrli:pureiso4217:DKK100210652021-01-012021-12-31100210652021-01-012021-12-311100210652021-01-012021-12-312100210652021-01-012021-12-313100210652021-01-012021-12-314100210652021-01-012021-12-315100210652021-01-012021-12-311100210652021-01-012021-12-311100210652020-01-012020-12-31cmn:PreviousYearMember100210652019-01-012019-12-31cmn:TwoYearsAgoMember100210652018-01-012018-12-31cmn:ThreeYearsAgoMember100210652017-01-012017-12-31cmn:FourYearsAgoMember100210652020-01-012020-12-31100210652021-01-012021-12-31fsa:ProposedDividendRecognisedInEquityMember100210652020-01-012020-12-31fsa:ProposedDividendRecognisedInEquityMember100210652021-01-012021-12-31fsa:RestOfOtherReservesMember100210652020-01-012020-12-31fsa:RestOfOtherReservesMember100210652021-01-012021-12-31fsa:RetainedEarningsMember100210652020-01-012020-12-31fsa:RetainedEarningsMember100210652021-01-012021-12-31fsa:ReserveForDevelopmentExpenditureMember100210652020-01-012020-12-31fsa:ReserveForDevelopmentExpenditureMember100210652021-01-012021-12-31fsa:RestOfOtherReservesMember100210652020-01-012020-12-31fsa:RestOfOtherReservesMember100210652021-01-012021-12-31fsa:RetainedEarningsMember100210652020-01-012020-12-31fsa:RetainedEarningsMember100210652021-12-31100210652020-12-31cmn:PreviousYearMember100210652019-12-31cmn:TwoYearsAgoMember100210652018-12-31cmn:ThreeYearsAgoMember100210652017-12-31cmn:FourYearsAgoMember100210652020-12-31100210652021-01-01fsa:ContributedCapitalMember100210652020-01-01fsa:ContributedCapitalMember100210652021-12-31fsa:ContributedCapitalMember100210652020-12-31fsa:ContributedCapitalMember100210652021-01-01fsa:ReserveForDevelopmentExpenditureMember100210652020-01-01fsa:ReserveForDevelopmentExpenditureMember100210652021-12-31fsa:ReserveForDevelopmentExpenditureMember100210652020-12-31fsa:ReserveForDevelopmentExpenditureMember100210652021-01-01fsa:RestOfOtherReservesMember100210652020-01-01fsa:RestOfOtherReservesMember100210652021-12-31fsa:RestOfOtherReservesMember100210652020-12-31fsa:RestOfOtherReservesMember100210652021-01-01fsa:RetainedEarningsMember100210652020-01-01fsa:RetainedEarningsMember100210652021-12-31fsa:RetainedEarningsMember100210652020-12-31fsa:RetainedEarningsMember100210652021-01-01fsa:ProposedDividendRecognisedInEquityMember100210652020-01-01fsa:ProposedDividendRecognisedInEquityMember100210652021-12-31fsa:ProposedDividendRecognisedInEquityMember100210652020-12-31fsa:ProposedDividendRecognisedInEquityMember100210652021-01-012021-12-31fsa:ProposedDividendRecognisedInEquityMember100210652020-01-012020-12-31fsa:ProposedDividendRecognisedInEquityMemberAnnual reportAuditor's report on audited financial statementsfalseReporting class C, medium-size enterprisefalsefalsefalsefalseSophion Bioscience A/S Baltorpvej1542750Ballerup10021065Ballerup2021-01-012021-12-312020-01-012020-12-312022-02-28Thais Taaning JohansenGustaf Peter von EhrenheimThais Taaning JohansenPeter MaxHarald HøeghEirik LauglochairmanThais Taaning JohansenDansk Revision Slagelse Godkendt RevisionsaktieselskabNdr. Ringgade744200Slagelse29919801Dansk Revision Slagelse Godkendt RevisionsaktieselskabNdr. Ringgade 744200 Slagelse29919801Today the Board of Directors and the Executive Board have discussed and approved the Annual Report for the financial year 1st January 2021 – 31st December 2021 for Sophion Bioscience A/S.<br/><br/>The Annual Report has been prepared in accordance with the Danish Financial Statements Act. <br/><br/>In our opinion, the financial statements provide a true and fair view of the Company's assets, liabilities and financial position at 31st December 2021 and of the Company’s operations for the financial year 1st January 2021 – 31st December 2021.<br/><br/>We believe that the Management’s review provides a true and fair view of the activities that the review de-scribes. <br/><br/>The Annual Report is recommended for approval at the annual general meeting.Ballerup2022-02-28To the shareholder of Sophion Bioscience A/S OpinionWe have audited the financial statements of Sophion Bioscience A/S for the financial year 1st January 2021 – 31st December 2021, which comprise income statement, balance sheet, statement of changes in equity, notes and a summary of significant accounting policies. The Financial Statements are prepared under the Danish Financial Statements Act.<br/><br/>In our opinion, the Financial Statements give a true and fair view of the Company’s financial position at 31st December 2021, and of the results of the Company operations for the financial year 1st January 2021 – 31st December 2021 in accordance with the Danish Financial Statements Act.Basis for OpinionWe conducted our audit in accordance with International Standards on Auditing (ISAs) and the additional re-quirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the “Auditor’s Responsibilities for the Audit of the Financial Statements” section of our report. We are independent of the Company in accordance with the International Ethics Standards Board for Accountants’ Code of Ethics for Professional Accountants (IESBA Code), together with the ethical requirements, that are relevant to our audit of the financial statements in Denmark, and we have fulfilled our other ethical responsibili-ties in accordance with these requirements and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.Management is responsible for the preparation of Financial Statements that give a true and fair view in accord-ance with the Danish Financial Statements Act, and for such internal control as Management determines is necessary to enable the preparation of Financial Statements that are free from material misstatement, whether due to fraud or error.<br/><br/>In preparing the Financial Statements, Management is responsible for assessing the Company’s ability to contin-ue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting in preparing the Financial Statements unless Management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.Our objectives are to obtain reasonable assurance about whether the Financial Statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individ-ually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Financial Statements.<br/>As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:<br/><br/>• Identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is suf-ficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error as fraud may involve collusion, forgery, in-tentional omissions, misrepresentations, or the override of internal control.<br/><br/>• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effective-ness of the Company’s internal control.<br/><br/>• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management<br/><br/>• Conclude on the appropriateness of Management’s use of the going concern basis of accounting in prepar-ing the Financial Statements and, based on the audit evidence obtained, whether a material uncertainty ex-ists related to events or conditions that may cast significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the Financial Statements or, if such disclosures are inade-quate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Company to cease to continue as a going concern.<br/><br/>• Evaluate the overall presentation, structure and contents of the Financial Statements, including the disclo-sures, and whether the Financial Statements represent the underlying transactions and events in a manner that gives a true and fair view.<br/><br/>• We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal con-trol that we identify during our audit.Management is responsible for Management’s Review. Our opinion on the Financial Statements does not cover Management’s Review, and we do not express any form of assurance conclusion thereon.<br/><br/>In connection with our audit of the Financial Statements, our responsibility is to read Management’s Review and, in doing so, consider whether Management’s Review is materially inconsistent with the Financial Statements or our knowledge obtained during the audit, or otherwise appears to be materially misstated.<br/><br/>Moreover, it is our responsibility to consider whether Management’s Review provides the information required under the Danish Financial Statements Act.<br/>Based on the work we have performed, we conclude that Management’s Review is in accordance with the Financial Statements and has been prepared in accordance with the requirements of the Danish Financial Statement Acts. We did not identify any material misstatement of Management’s Review.Slagelse2022-02-28Kim Thomas NielsenState authorized public accountantmne28660Core activities<br/>The company’s primary activities consist of development, production, and sale of solutions to streamline the research and in vitro safety phases of drug discovery in the pharmaceutical industry. <br/>The company’s activities are based on the patch clamp technique, where the impact of new drug candidates on the ion flow through membrane proteins (ion channels) of living cells can be measured. These Patch Clamp measurements can be performed automated and in parallel, thus enabling more than 1,000 times higher screening rate compared with the conventional manual patch clamp method. The company’s resources are mainly used on commercialisation of these novel high throughput screening systems, as well as the consumables needed to perform accurate and reliable measurements. Also, the Company offers technical and scientific services in relation to the screening systems.<br/><br/>Development in the year<br/>Sophion Bioscience A/S had a very productive year. The Company continued to sell its full suite of products for single cell analysis to the biotech and pharmaceutical industry. <br/><br/>Total revenue for the year grew significantly as compared to last year and securing another record year for the company. A slight improvement on manufacturing cost while maintaining operational expenses in line with expectations resulted in a strong operating margin and not least net profit. <br/><br/>The year’s profit reached 36,324 TDKK compared to last year of 25,217 TDKK.<br/><br/>Outlook<br/>Sophion Bioscience A/S expects to continue its growth in its core marked during 2022. The Company anticipate strengthening its global S&M and R&D activities thru larger than usual investments in R&D programs and a significant increase in number of employees during the year. Hence, while the top-line revenue is anticipated to grow the financial performance will for the shorter term likely be modest as a result in the above-mentioned investments. A profit of 10 million DKK to 20 million DKK is expected for the coming year. <br/> <br/>Risk profile and -management<br/>The company and the Group emphasize minimizing the risk of events that may have unexpectedly negative operating and earnings impact, through a normal insurance coverage. Business risks, such as technological development, are ensured by continuous design and product development and thus updating the product portfolio. In addition, significant changes in exchange rates may affect earnings, as the company and the group are sensitive to changes in the USD exchange rate.<br/><br/>Impact on the external environment<br/>The company and the Group place emphasis on managing the company in a sustainable and environmentally sound manner. The environmental impact of the Group's production and sales are not expected to affect the environment in an inappropriate manner compared to similar companies in the same industry.<br/><br/>Research and development activities<br/>Sophion Bioscience A/S continues to invest in research and development (R&D). These activities will accelerate the development of new products.<br/>Group and associated companies abroad<br/>Sophion Bioscience have two foreign subsidiaries; Sophion Bioscience Inc., in U.S.A. and Sophion Bioscience KK in Japan. Both subsidiaries primarily function is to act as the company’s sales offices in the region. In China, Sophion is represented by a sales office.<br/><br/>Events after the end of the financial year<br/>No events materially affecting the assessment of the Annual Report have occurred after the balance sheet date.<br/><br/>Results compared to previous expectations<br/>The expectation for 2021 was increased growth and earnings in the region of 20 DKK million to 30 million DKK. The result for 2021 was better that the expectation expectations as set out in the annual report 2020. The higher result is primarily due to increased revenues while maintaining overall cost in line with budget. General<br/>The Annual Report has been prepared in accordance with the provisions of the Danish Financial Statements Act as regards reporting class C-medium enterprises.<br/><br/>The financial statements have been prepared in accordance with the same accounting policies as last year.<br/><br/>Change in accounting estimates<br/>The company continuously assesses the economic viability of the products in relation to the development activities and launch of new products.<br/>In this connection, the company has made a reassessment of the viability for parts of the development projects and has reduced the period from 10 to 8 years. Reassessment of the viability has increased depreciation of 4.6 million DKK and has thus reduced the profit for the year, balance sheet total and equity by 3.6 million DKK.<br/><br/>General about recognition and valuation<br/>Assets are included in the balance sheet where it is likely that future financial benefits will accrue to the compa-ny and where the asset’s value can be reliably valued. <br/><br/>Liabilities are included in the balance sheet where it is likely that future financial resources will be deducted from the company and where the value of the liability can be measured reliably.<br/><br/>On initial recognition, assets and liabilities are valued at cost. Assets and liabilities are subsequently valued as described for each individual item below.<br/><br/>Certain financial assets and liabilities are measured at amortised cost where a constant effective interest is recognised over the maturity period. Amortised cost is stated as original cost less any principal payments plus or minus the cumulative amortisation of any difference between cost and nominal amount.<br/><br/>When recognising and valuing, consideration is given to foreseeable losses and risks that occur prior to submis-sion of the Annual Report and that serve to confirm or refute conditions existing on the balance sheet date.<br/><br/>Income is recognised in the income statement as earned, including recognition of value adjustments of financial assets and liabilities measured at fair value or amortised cost. Costs incurred to achieve the earnings for the year are also recognised, including amortisation, and write-downs and provisions, as well as reversals resulting from changes to accounting estimates that were previously recognised in the income statement.<br/><br/>Translation of foreign currency<br/>Transactions denominated in foreign currencies are translated during the course of the year at the exchange rates at the date of the transaction. Receivables, payables and other items denominated in foreign currency not settled on the balance sheet date are translated at the exchange rates at the balance sheet date.<br/><br/>Foreign subsidiaries are considered to be independent entities. Income statements are translated at an average exchange rate and the balance sheet items are translated at the balance sheet date exchange rates. Exchange differences arising from the translation of foreign subsidiaries' equity at the beginning of the year at the ex-change rates at the balance sheet date and on translation of income statements from through-exchange rates at the exchange rates at the balance sheet date are recognized directly in equity.<br/>Exchange rate adjustments of balances with independent foreign subsidiaries, which are considered to be part of the total investment in subsidiaries, are recognized directly in equity.<br/> <br/>Realised and unrealised exchange gains and losses are recognised in the income statement as financial income or expenses.<br/><br/>No financial instruments are used to hedge the value in Danish kroner of balance sheet items in foreign curren-cy or future transactions in foreign currency.<br/><br/>Business acquisition<br/>When acquiring new companies in which the Group obtains controlling influence over the acquired enterprise, the acquirer’s identifiable assets, liabilities and contingent liabilities are measured at fair value at acquisition date. The acquisition date is the time when the control of the company is actually taken over. If the cost of the acquired identifiable net assets exceeds the fair value of the net assets and the value of minority interests in the acquire, the excess amounts are recognized as goodwill in financial assets. If the fair value of the acquired identifiable net assets exceeds the cost of the net assets, the amount is recognized in the income statement at the acquisition date.<br/><br/>The cost of an enterprise consists of the fair value of the consideration paid, including acquisition costs for the acquired enterprise. Profit from subsidiaries acquired during the year is included in the parents income state-ment from the acquisition date.According to section 112 of the Danish Financial Statements Act, no consolidated financial statements have been prepared. The annual accounts of Sophion Bioscience A/S and subsidiaries are included in the consolidated financial statements of Sapphire Bioscience Holding ApS.<br/>Revenue<br/>Revenue is recognised in the income statement where delivery took place and the risk passed to the buyer prior to the end of the financial year. Revenue is recognised exclusive of VAT and after deduction of discounts given in connection with the sale.<br/><br/>Gross profit<br/>Revenue less cost of sales are included in the income statement as ”Gross profit ".<br/><br/>Cost of sales<br/>Cost of sales comprises costs incurred to achieve revenue for the year including depreciation.<br/><br/>Development costs<br/>Development costs include costs for improving and developing the company's product portfolio, which does not meet the criteria for development projects including depreciation.<br/><br/>Distribution costs<br/>Distribution costs comprise costs in the form of advertising, marketing and travel expenses as well as operation of motor vehicles including depreciation.<br/><br/>Administrative costs<br/>Administrative costs comprise expenses for Management, administrative staff, office expenses, depreciation, etc.<br/><br/>Income from investments in subsidiaries<br/>Income from associates is recognized in the income statement with the relative share of the company's profit after adjusting internal profit or loss.<br/><br/>Financial income and expenses<br/>Net financials include interest income and expenses, financial expenses related to financial leasing, realised and unrealised exchange gains and losses relating to debt and transactions denominated in foreign currency, and surcharges and allowances under the advance-payment-of-tax scheme, etc.<br/><br/>Tax on profit for the year<br/>The portion of the tax for the year, consisting of the current tax for the year and the change in deferred tax for the year, which can be attributed to the profit for the year is included in the income statement, and the portion that can be attributed to transactions taken to equity is included directly in equity. <br/><br/>The company is subject to the Danish rules on compulsory joint taxation of the parent company and the Danish subsidiaries.<br/><br/>The current Danish corporation tax is distributed by settling joint taxation contributions between the jointly taxed companies in proportion to their taxable income. In connection with this, companies with tax losses receive joint taxation contributions from companies that have been able to apply this deficit (full distribution).Intangible fixed assets<br/>Intangible fixed assets are measured at cost less accumulated depreciation. Depreciation is distributed on a straight-line basis over the expected useful lives with a scrap value of 0%.<br/><br/>Expected useful lives include:<br/>Development projects 3-8 years<br/>Patents, licenses and similar rights 5-10 years<br/>Other intangible fixed assets 10 years<br/><br/>Development projects include costs, including salaries and salaries, as well as depreciation, which are directly or indirectly attributable to the company's development activities and which meet the criteria for recognition. Development costs are measured at cost price. Capitalized development costs are amortized on a straight-line basis after completion of development work over the useful life.<br/><br/>Development projects relating to products and processes that are clearly defined and identified where the technical utilization rate, sufficient resources and potential future market or development opportunity in the company can be identified and where it intends to produce, market or use the product or process in question, recognized as intangible assets. Other development costs are recognized as expenses in the income statement when costs are incurred.<br/><br/>Indirect production costs in the form of indivisible attributable personnel costs and depreciation of intangible assets and property, plant and equipment used in the development process are recognized in the cost price based on the time consumed for each project.<br/><br/>Depreciation related to development costs is based on the expected useful lives and the contractually agreed entitlement periods.<br/><br/>Development costs that do not meet the criteria for recognition in the balance sheet are recognized in the income statement.<br/><br/>An amount corresponding to the recognized development costs is linked to a special reserve under equity called "Reserve for development costs". The reserve can not be used for dividends or coverage of losses. If the recognized development costs are sold or at another meeting, due to the operation of the company, the re-serve is dissolved or reduced. This is done by transferring the reserve for development costs to the equity reserves. If the recognized development costs are written down, part of the development cost reserve must be reversed. The part to be reversed corresponds to the write-down of development costs. If a write-down of development costs is subsequently reversed, the reserve for development costs must be restored. The reserve for development costs must also be reduced using depreciation. In this way, the equity reserve will correspond to the amount recognized in the balance sheet as development costs.<br/><br/>Profit or loss on disposal of intangible assets is calculated as the difference between the selling price less selling expenses and the carrying amount at the date of sale. Profits or losses are recognized in the income statement under other operating income or other operating expenses.<br/><br/>Tangible fixed assets<br/>Tangible fixed assets are measured at cost less accumulated depreciation. Depreciation is applied using the straight-line method, based on an assessment of the expected useful life and residual value of the individual asset.<br/><br/>The basis for depreciation is cost less expected residual value when the asset ceases to be used. The cost in-cludes the acquisition cost plus costs directly associated with the acquisition up to the time when the asset is ready to be taken into use.<br/><br/>The amortization period and the residual value are determined at the acquisition date and are reviewed annual-ly. If the residual value exceeds the carrying amount of the asset, depreciation will cease. Changes in the amorti-zation period or residual value include the effect of depreciation forward-looking as a change in accounting estimates.<br/><br/><br/>Expected usage time is calculated as follows with a scrap value of 0%:<br/><br/>Leasehold improvements 10 years<br/>Plant and machinery 5-10 years<br/>Other fixtures and fittings, tools and equipment 3-5 years<br/><br/>Gains or losses from the disposal of tangible fixed assets are calculated as the difference between the selling price less selling expenses and the carrying amount at the time of the sale. Gains or losses are recognised in the income statement under other operating income or other operating expenses.<br/><br/>Tangible fixed assets leased and meeting the terms of financial leasing are treated according to the same guide-lines as owned assets.<br/><br/>Write-down on fixed assets<br/>The balance sheet value of fixed assets are assessed annually for any indications of impairment, in addition to those expressed as depreciation.<br/><br/>If there are any indications of impairment, an impairment test are carried out for each individual asset or group of assets. Where an asset's recoverable value is lower than the carrying amount, the asset is written down to the recoverable value. <br/><br/>The recoverable value is the higher of the net selling price and the value in use. The value in use are calculated as the current value of the estimated net income from the use of the asset or group of assets<br/><br/>Financial assets<br/>Investments in affiliated companies are recognized using the equity method. Share of profit for the year is recognized in the income statement. In the balance sheet, the proportionate share of the book value is calculat-ed in accordance with the parent company's accounting policies, adjusted for unrealized intra-group gains or losses.<br/><br/>Affiliated companies with negative net asset value are recognized at DKK 0 and an equivalent receivable from these companies is written down with the parent company's share of the negative net asset value to the extent that the receivable is deemed to be irreconcilable. If the negative net asset value exceeds receivables, the remaining part of the negative asset value is recognized under provisions to the extent that the parent company has a legal or actual obligation to cover the underlying balance of these companies.<br/><br/>Deposits are valued at acquisition cost.<br/><br/>Inventories<br/>Inventories are measured at cost based on the FIFO method, or at realisable value, whichever is the lower. Any write-downs to net realisable value are recognized in the income statement.<br/><br/>The net realisable value of inventories is calculated as the selling price less completion costs and costs incurred to execute sale, and is fixed with due consideration to marketability, obsolescence and movements in expected selling prices.<br/><br/>The cost of goods for resale as well as raw materials and consumables comprises the acquisition cost plus any attributable delivery costs.<br/><br/>The cost of manufactured goods and manufactured goods includes cost of raw materials, consumables, direct pay and direct production costs. Indirect production costs include indirect materials and wages as well as maintenance and depreciation of the machinery, plant and equipment used in the production process, factory administration and management costs and capitalized development costs relating to the products.<br/><br/>Receivables<br/>Receivables are measured at amortised cost, which usually corresponds to nominal value. The value is reduced by write-downs for bad debts based on an individual assessment of each receivable.<br/><br/>Prepayments<br/>Prepayments recognised under 'Assets' comprise prepaid expenses regarding subsequent financial reporting years.<br/><br/>Cash at hand and in bank<br/>Includes deposits on bank accounts.<br/><br/>Dividend<br/>Dividend, the management proposes paid for the year, is shown as a separate item under equity. Proposed dividend is recognized as a liability at the time of adoption at the general meeting.<br/><br/>Liabilities<br/>Liabilities are measured at amortized cost equal to the nominal value.<br/><br/>Tax payable and deferred tax <br/>Current tax payables and receivables are recognised in the balance sheet as the estimated tax charge in respect of the taxable income for the year, adjusted for tax on prior years' taxable income and tax paid in advance.<br/><br/>Provisions for deferred tax are calculated based on the balance sheet liability method of all temporary differ-ences between the carrying amount and tax values of assets and liabilities. Deferred tax is measured based on the tax rules and tax rates that, according to the legislation in place on the balance sheet date, will apply when the deferred tax is expected to be converted to current tax. Any changes in deferred tax because of amend-ments to tax rates are recognised in the income statement.<br/><br/>Deferred tax assets, including the tax value of tax loss carry forwards, are measured at the value at which the asset is expected to be realized either by settlement in tax of future positive taxable income or by offsetting in deferred tax liabilities within the same legal tax entity. Any deferred net tax assets are measured at net realiza-ble value.With reference to section 86, act 4 of the Danish Financial Statements act, the company has chosen not to prepare cash flow statement, as it is included in the consolidated cash flow statement, which has been prepared in the annual report of Sapphire Bioscience Holding ApS.4210005830005000124270001307000449690003153700028907000222190009571000315370003632400025217000226270004026900017344000252170000080630002371000282610002284600080630002371000789000-9550002826100022846000174724000140116000139308000122401000126932000140116000656300022090003540001700005320000143846000106465000101149000982510001012670001064650005000000050000000500000005000000017445000150740002550800017445000-9550000-166000-95500039975000150750006850400039975000021000000000.8230.7600.7260.8030.7980.2900.2430.2270.4040.1660.3590.2260.2210.1780.0749834600077484000154260001224000019646000161140001830500017593000-211000-134000-211000-13400093500010000005140004170004517900031986000885500067690008090005840003098500041157000401000821000164650005604000486600004816600022530000457800027940002710000710200027940000064800062900064800062900056410000515890001851600012944000807000046290001571000013160000214000423000425100003115600057030006818000363650001569200022710008433000212800014400001246000987000477130003337000028091000240010001183140008852700050000000500000002550800017445000-166000-955000685040003997500000624000480000624000480000052000005200008322000604400013184000127470002847000212500059010001173500030254000326510003025400033171000174724000140116000268000205400000021000000Wages and salaries 25,811 25,877<br/>Pensions 6,603 2,936<br/>Other social security costs 633 488<br/>Other staff costs 1,009 602<br/> 34.056 29,903<br/>Capitalized staff costs -12,620 -5,788<br/>Total staff costs 21,436 24,115<br/> <br/>Staff costs are recognised as follows <br/> <br/>Production costs 3,594 3,401<br/>Development costs 2,452 6,623<br/>Distribution costs 8,324 7,080<br/>Administrative expenses 7,066 7,011<br/> 21,436 24,115Remuneration to management 3,078 1,9604135Interests, group companies 935 745<br/>Other financial income 0 255<br/>Total financial income 935 1,000Taxes for the year 2,662 2,432<br/>Changes deferred taxes 6,162 4,281<br/>Adjustments of previous years tax 31 56<br/>Total taxes for the year 8,855 6,769Development projects <br/> <br/>Cost 1st January 82,696 77,230<br/>Transferred from development projects in progress 4,215 5,466<br/>Cost 31st December 86,911 82,696<br/> <br/>Depreciations 1st January -41,539 -32,627<br/>Depreciations for the year -14,387 -8,912<br/>Depreciations 31st December -55,926 -41,539<br/> <br/>Total development projects 30,985 41,157<br/> <br/>Development projects relate to the development of the company's two main products Qube and Qpatch. The projects are marketed and make a significant contribution to the company's revenue.<br/><br/><br/>Intellectual property rights <br/> <br/>Cost 1st January 17,809 17,672<br/>Additions for the year 284 137<br/>Disposals for the year -160 <br/>Cost 31st December 17,933 17,809<br/> <br/>Depreciations 1st January -17,225 -17,162<br/>Depreciations for the year -59 -63<br/>Depreciations on disposals 160 <br/>Depreciations 31st December -17,124 -17,225<br/> <br/>Total intellectual property rights 809 584<br/><br/><br/>Other intangible assets <br/> <br/>Cost 1st January 2.567 2.567<br/>Additions for the year 95 0<br/>Cost 31st December 2,662 2,567<br/> <br/>Depreciations 1st January -1,746 -1,233<br/>Depreciations for the year -515 -513<br/>Depreciations 31st December -2,261 -1,746<br/> <br/><br/>Total other intangible assets 401 821<br/><br/><br/> <br/>Development projects in progress <br/> <br/>Cost 1st January 5,604 5,186<br/>Additions for the year 15,076 5,884<br/>Transferred to development projects -4,215 -5,466<br/>Cost 31st December 16,465 5,604<br/> <br/>Total development projects in progress 16,465 5,604<br/> <br/>The development projects relate to the development of additional functionalities on the company's two main products Qube and Qpatch as well as new products. The projects will proceed as planned using the resources, that the management has allocated to the development. It is expected that the products will be sold to current as well as new customer segments.Leasehold improvements <br/> <br/>Cost 1st January 0 0<br/>Additions for the year 271 0<br/>Cost 31st December 271 0<br/> <br/>Total leasehold improvements 271 0<br/><br/>Plant and machinery <br/> <br/>Cost 1st January 6,805 6,805<br/>Additions for the year 2,439 0<br/>Disposals for the year -233 0<br/>Cost 31st December 9,011 6,805<br/> <br/>Depreciations 1st January -6,805 -6,789<br/>Depreciations for the year -186 -16<br/>Depreciations on disposals 233 0<br/>Depreciations 31st December -6,758 -6,805<br/> <br/>Total plant and Machinery 2,253 0<br/><br/>Other fixtures and fittings, tools and equipment <br/> <br/>Cost 1st January 9,082 6,873<br/>Additions for the year 3,853 2,209<br/>Disposals for the year -1,743 0<br/>Cost 31st December 11,192 9,082<br/> <br/>Depreciations 1st January -6,288 -5,297<br/>Depreciations for the year -1,443 -991<br/>Depreciations on disposals 1,117 0<br/>Depreciations 31st December -6,614 -6,288<br/> <br/>Total other fixtures and fittings, tools and equipment 4,578 2,794Insurances 56 89<br/>Rent 474 436<br/>Licenses, patents and subscriptions 641 387<br/>Leasing 75 75<br/>Total prepayments 1,246 987Equity investments in subsidiaries <br/> <br/>Cost 1st January 82 82<br/>Cost 31st December 82 82<br/> <br/>Value adjustments 1st January -82 -82<br/>Profit or loss for the year -211 -134<br/>Currency rate adjustments 13 22<br/>Other Value adjustments 198 112<br/>Value adjustments 31st December -82 -82<br/> <br/>Equity investments in subsidiaries total 0 0<br/> <br/>Name Place Ownership<br/>Sophion Inc. USA 100%<br/>Sophion K.K. Japan 100%<br/><br/><br/>Deposits <br/> <br/>Cost 1st January 629 632<br/>Additions for the year 19 0<br/>Disposals for the year 0 -3<br/>Cost 31st December 648 629<br/> <br/>Total Deposits 648 629Share capital <br/> <br/>A shares 6.282.623 shares of nom. DKK 1 each 6,283 6,283<br/>B share, 43.717.377 shares of nom. DKK 1 each 43,717 43,717<br/>Total share capital 50,000 50,000<br/> <br/>Share capital was in 2017 reduced with 85,444,000 B shares. The value hereof were transferred to retained earnings.Deferred tax asset 1st January 8,433 12,713<br/>Recognized in this years profit -6,162 -4,280<br/>Deferred tax asset 31st December 2,271 8,433<br/> <br/>Recognized deferred tax assets primarily relate to tax losses from previous years to carry forward of 56 million DKK. The tax losses can be carried forward without a time limit and the management has chosen to fully recognize the tax losses, as they are expected to be used within the next 2-4 years. The recognition is based on the positive results realized in the years 2017-2021 and the management's expectations for the coming years' results. The company is thus expected to continue to make a tax profit, and is therefore expected to use the tax losses to carry forward.Other provisions 1st January 480 576<br/>Regulated during the year 144 -96<br/>Other provisions 31st December 624 480Part of liabilities due after 5 years 0 0The following shareholders are recorded in the company’s register of shareholders as holding at least 5% of the votes or at least 5% of the share capital:<br/>Sapphire Bioscience Holding ApS, Ballerup, ownership 100%<br/><br/>The parent company Sapphire Bioscience Holding ApS prepares consolidated accounts wherein this company is a subsidiary.<br/><br/>All related transactions are on market conditions, so the company and the group do not disclose these with reference to section 98c, act 7 of the Danish Financial Statements Act.The company was until 8th February 2021 jointly and severally liable with the parent company Sapphire Bioscience Holding ApS and the managing company TTJ Invest Holding ApS for Danish corporation tax and withholding taxes on dividends and royalties within the joint taxation. Corporation tax and withholding taxes within the joint taxation circle are disclosed in the managing company's annual accounts. <br/>From 8th February 2021 TTJ Invest Holding ApS was no longer a part of the joint taxation, why the company was no longer jointly liable with this company from this date.<br/><br/><br/>Contractual liabilities<br/>The company has signed rent agreement with 6 months’ notice. The liability of the notice period is 845 TDKK. A mortgage of DKK 5.5 million have been registered as security for the company's commitment to bank affiliation. The mortgage includes simple receivables arising from the sale of goods and services, operating equipment, inventories and goodwill, domain names and rights in according to the Patent Act. The carrying amount of the assets amounts to TDKK 55,853.